Mumbai, Oct 31: India's largest private sector conglomerate Reliance Industries Ltd (RIL) has registered a substantial rise of 25.09 per cent in net profit at Rs 10.02 bn for the second quarter ended September 30 as compared to Rs 8.01 bn in the same period last year.
The net turnover for the period under review stood higher by 7.41 per cent at Rs 115.19 bn as against Rs 107.24 bn in the Q2 of FY'02, RIL said in a statement here today.
The company's other income for the quarter was, however, down by 21.53 per cent to Rs 2.04 bn over Rs 2.60 bn in the same period of the previous fiscal. For the half-year ended September 30 the net profit was also up by 25 per cent at Rs 19.20 bn over Rs 15.36 bn and net turnover was marginally higher at Rs 221.69 bn as against Rs 218.30 bn in the FY'02. The company had revalued its plant and machinery at Patalganga and Naroda in 1997-98 and consequently, there has been an additional depreciation charge of Rs 580 mn for H1'03 and an equivalent amount has been withdrawn from the general reserves, it said adding there was no impact on the profit for the period. Bureau Report